"The partnership will accelerate the transition to e-reading, which is revolutionizing the way people consume, create, share and enjoy digital content," the release stated.

Microsoft pointed out that one of the first benefits for customers will be the Nook application for Windows 8-based devices, which will extend the Barnes & Noble's digital bookstore to millions of Windows customers in the United States and internationally.

Additionally, the inclusion of Barnes & Noble's college business is an "important component" of the subsidiary's strategic vision, as it allows the retailer to tout its Nook Study software to students and educators on the back of Microsoft's siginificant presence within the education sector.

"The formation of [the new subsidiary] and our relationship with Microsoft are important parts of our strategy to capitalize on the rapid growth of the Nook business, and to solidify our position as a leader in the exploding market for digital content in the consumer and education segments," said William Lynch, CEO of Barnes & Noble, in the press release.